STI stocks hurtling towards year's lows with August mauling

AUGUST, traditionally a weak month for Singapore equities, is panning out worse than expected, with the index down 5.3 per cent this month.

KGI Securities' head of research Joel Ng said:"SPH's media business is still under pressure, and its heavy investments into the UK are taking a hit from Brexit fears and the country's weakening currency." The recent stock performances of these nine STI counters have also run into global economic headwinds and growing fears of a recession.

"This may have exacerbated the share price fall in this earnings season and more recently," he added. Such conditions may cast a pall over markets, but analysts believe that this year's market performance is unlikely to compare with that of last year, when the STI lost 9.8 per cent.

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Singapore stocks: STI resumes Wednesday afternoon at 3,156.81, up 0.3% on dayTHE local equities market, like its global peers, faced a relief rebound on Wednesday on news that Washington delayed tariffs on certain Chinese imports. While China's data dump for July disappointed, sentiment was little dented for market participants who have had to contend with recent political and economic worries. Read more at The Business Times.
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